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Buy And Sell Bitcoins At Crypto Exchanges- Beginner-Friendly Guide

Buy And Sell Bitcoins At Crypto Exchanges- Beginner-Friendly Guide

Cryptography is used for bitcoin to keep this crypto secured and cryptocurrency market it is a computer or software program that can help you to buy and sell your coins. You can buy Bitcoins from an exchange platform and sell them the same exchange platform as well. Peer-to-Peer transactions are the main system that can maintain a public ledger with bitcoin transaction records, and you can find all this information in a public ledger.

Become A Millionaire: Why Invest In Bitcoins?

Bitcoin can generate a huge amount of profit, and you can earn profit from your bitcoin investment. Apart from that, you can make transactions with BTC with an anonymous identity, and you can send funds to another user through your wallet. Bitcoin is based on a decentralized network that cannot be controlled or tracked by the government or any central bank. You can buy bitcoin from P2P exchanges.

Bitcoin was introduced as a P2P electronic cash system by Nakamoto in 2009, and he published a white paper on bitcoin in 2008. After a certain period, Nakamoto sent a mail to a developer named Mike Hearn stating that he is decided to move to another project and he disappeared. Still, his identity is a mystery, and no one knows about his presence. Even, many people think that Nakamoto is a group of developers that has introduced BTC.

After bitcoin, there are more than six thousand cryptos launched in the market, which are known as altcoins. Some of them disappeared and investors lost their investments. So, you need to invest your funds with caution and you must add reliable coins and tokens to your portfolio to diversify your profile. To be on the safe side, it is better to start your investment journey with BTC, which is the largest and oldest cryptocurrency available in the market.

Tips to buy and sell your bitcoins:

First, you need to register yourself on a crypto exchange platform and complete the KYC process. Some exchanges can take a few days to activate your account, and you can instantly activate your account within a few minutes in some exchanges. When opening an account, going through the customers’ reviews and security measures is of utmost importance. Below are some steps highlighted to buy and sell your bitcoins.

  • Once you open an exchange account, you need to fund your crypto account with fiat currency. Next you need to link your bank account using your debit card for the same.
  • You can simply place an order to buy bitcoin from an exchange. You should not leave your coins in your exchange account. You must choose a hot or cold wallet to store your coins. Both wallets have two types of keys, known as private and public keys. You can transfer your funds from your account to another user’s account by entering your private key in your wallet, and you should not share this key with anyone. In order to receive funds, you will need to have access to a public key or QR code which you can have found in your wallet.
  • When it comes to selling off your traded Bitcoins, note that the exchange platforms have a sole holding period, and you can sell your coins after this timespan. To know such details, you can check your exchange and you must check their transaction fees too.
  • Apart from that, you can sell your coins to a potential buyer directly from a platform, as there are many P2P platforms available for the same. Make sure, you must meet that person and ensure his or her authenticity before you transfer your coins, because you cannot place a refund request once you transfer your coins to another account.

Conclusion

There are some P2P exchanges available that can transfer your funds directly to your bank account, but some of them can also offer your funds in the form of MoneyGram, gift cards and cash in the mail. So, you must check their payment method before you sell your coins through their platform. It is better to connect with some buyers through such platforms and negotiate the price of your coins. Finalize the price with a buyer and meet that person to sell your coins in person. Finally, when you are determined to buy and sell Bitcoins, be sure to check out this <<Image>>.

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Written by Joshua White

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